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European Equities

European equities offer unrivalled opportunities in terms of breadth of sector and market exposure. Europe is perhaps the most outward-looking of all the major investment regions.

Whilst there is ample opportunity to invest in strong domestic franchises, European equities also include a considerable number of global brands, technology leaders and firms with cutting-edge industrial expertise. Today, the picture in Europe has changed: political instability has faded and the growth rate is more synchronised and less fragmented.

Opportunities:

The stable economy and growth rates supported by accommodative monetary policy make European equities attractive.

Political risks in Europe have receded, especially since the French elections.

Earnings estimates in European equities are strong with upward revisions.

The funds are managed with a bottom-up approach by an experienced team of stock pickers with a long-term investment focus.

Investment philosophy & process:

The team uses top-down analysis based on their thematic ideas with a bottom-up investment process which leads to a high-conviction, concentrated portfolio of 50–70 stocks.

After researching the market and sectors, they come up with thematic, macroeconomic and sector views. Then, most of the process is bottom-up through quantitative screening, company meetings and broker research inputs.

Quantitative screening and research are based on valuations, growth, income, and returns.

Through meetings with European companies (500+ per year) the team gathers in-depth knowledge of their businesses.

The fund managers will take into account the political and economic environment, but only invest if they find companies that match their investment criteria from a balance sheet perspective.

Robert joined UBP in 2010 as Co-Head of Pan-European Equities and has 25 years of investment experience. At Threadneedle he managed six funds. He holds a degree in Business Studies from the University of Brighton.

Scott joined UBP in 2010 and is Co-Head of Pan-European Equities alongside Rob. He has 29 years of investment experience. Scott managed seven institutional UK portfolios at Threadneedle. He graduated with a Bsc in Economics from City University London.

European Small Cap Equities, Senior Portfolio Manager

Charlie Anniss

Charlie joined UBP in 2016 to launch a European small-cap equity fund and support the team on SMID cap equities. He graduated from the University of Bristol in 2000 with a degree in French and Spanish. He is a CFA charterholder.